In spite of growth being expected throughout the forecast period, sales of Western European bags and luggage are not expected to return to 2019 levels before the current year-end.
Sales of Western European bags and luggage recorded a major decline in 2020. The closure of non-essential bricks-and-mortar stores and travel restrictions were among the main COVID-19-related problems for the industry in 2020, and which were also in place across the region in 2021 as well, limiting the recovery in this year.
As per a Euromonitor Report, Western Europe accounted for 16 per cent of global sales of bangs and luggage at US$24.7 billion in 2019. The UK, France and Italy represented over half of regional value sales, with the UK posting a high CAGR of 6 per cent over 2014-2019, boosted by the strong performance of the luxury segment. In comparison, the regional CAGR was 2 per cent, which reflects the instability caused by currency and economic volatility. However, growth in handbags, backpacks and luggage in particular continued to boost the performance of the category.